FBR issues procedure for obtaining NTN, company registration

ISLAMABAD: Federal Board of Revenue (FBR) has issued procedure for getting National Tax Number (NTN) and registration with Securities and Exchange Commission of Pakistan (SECP) through Virtual One Stop Shop (VOSS). Read more »

Cabinet to approve money whitening amnesty scheme today

ISLAMABAD: The federal cabinet may consider and approve the new amnesty scheme today which is meant for whitening the ill-gotten money. Read more »

Sales Tax Act 1990: maintaining record for taxable supplies

KARACHI: A person making taxable supplies is required to maintain record of goods and keep at his office for scrutiny by tax officials. Read more »

FBR issues procedure for making payment through internet, ATM, mobile banking

ISLAMABAD: Federal Board of Revenue (FBR) has issued procedure for payment of duty and taxes through alternate delivery channels (ADC) including internet banking, ATM and mobile banking. Read more »

Sales Tax Act 1990: Invoice issued by suspended taxpayers not to be entertained for refund, input adjustment

KARACHI: Any invoice issued by a person, who is suspended or black listed by tax authorities, may not be acceptable for refund claim or input adjustment by another registered person. Read more »

Procedure to get WeBOC registration for online customs access

KARACHI: Federal Board of Revenue (FBR) has issued procedure to get registration for WeBOC in order to access the Customs online system for consignment clearance. Read more »

FBR suspends zero rating on electricity to textile unit

ISLAMABAD: Federal Board of Revenue (FBR) has suspended sales tax zero rating allowed to a textile unit on consumption of electricity. Read more »

FBR may redefine motor vehicle for withholding tax collection

KARACHI: Federal Board of Revenue (FBR) to recommend the government to redefine withholding tax on motor vehicles to bring construction and heavy vehicles into tax net. Read more »

Sales Tax Act 1990: persons required to get registration

KARACHI: All the persons engaged in making taxable supplies are required to get sales tax registration. Read more »

Amnesty scheme 2018 shows 91pc foreign assets declarants are registered taxpayers

ISLAMABAD: The Amnesty Scheme 2018 has shown the 91 percent tax dodgers, who availed the scheme for declaring undisclosed foreign assets were registered with tax department. Read more »

FBR lodges FIR against Shaheen Air for tax fraud

KARACHI: Federal Board of Revenue (FBR) has lodged First Information Report (FIR) against Shaheen Air International Limited for committing tax fraud to the tune of Rs 1 billion. Read more »

RTO Karachi recommends revival of minimum tax for commercial importers in budget 2019/2020

KARACHI: Regional Tax Office (RTO) – II Karachi has recommended revival of minimum tax regime for commercial importers in the budget 2019/2020. Read more »